policy; nor shall the terms of this policy be waived or changed, except by endorsement issued to form a part hereof, signed by an authorized representative of our company.

10. **Assignment** - Assignment of interest under this policy shall not bind us until our consent is endorsed hereon; if, however, the first Named Insured shall be adjudged bankrupt or insolvent, this policy shall cover the first Named Insured's legal representative as "insureds"; provided that notice of cancellation addressed to the first Named Insured in the Declarations and mailed to the address shown in this policy shall be sufficient notice to effect cancellation of this policy.

11. **Cancellation** - This policy may be cancelled by the first Named Insured by surrender thereof to us or any of our authorized agents, or by mailing to us or any of our authorized agents, written notice stating when thereafter such cancellation shall be effective. The policy may be cancelled by us by mailing to the first Named Insured at the address shown in Item 1 of the Declarations, written notice stating when, not less than thirty (30) days thereafter (ten (10) days with respect to cancellation for non-payment of premium), such cancellation shall be effective. Proof of mailing of notice as aforesaid shall be sufficient proof of notice. The time of surrender or the effective date and hour of cancellation stated in the notice shall become the end of the policy period. Delivery of such written notice either by the first Named Insured or by us shall be equivalent to mailing.

If we cancel, earned premium shall be computed pro rata. If the first Named Insured cancels, earned premium shall be computed in accordance with the customary short rate table procedure; in the event of such cancellation, the earned premium shall in no case be less than the minimum earned premium at inception as stated in the Declarations.

Premium adjustment may be made at the time cancellation is effected or as soon as practicable thereafter. Our check or our representative's check, mailed or delivered, shall be sufficient tender of any refund due the first Named Insured.

If this policy insures more than one Named Insured, cancellation may be effected by the first Named Insured for the account of all "insureds". Notice of cancellation by us to such first Named Insured shall be notice to all "insureds". Payment of any unearned premium to such first Named Insured shall be for the account of all interests in such payment.